The Industrial and Commercial Bank of China, or ICBC (HK:1398) (IDCBF) was founded in 1984 during a period of significant economic reforms in …
Tagged By financials
Poly Property’s sales slump as Beijing’s market rescue package produces mixed results
The Chinese state-backed developer saw sales fall by almost a fifth in May, adding to a mixed picture of the impact of Beijing’s historic measures to rescue its crisis-hit real estate segment.
The strange tale of a $457 million deposit, 100 million masks from China, and one tiny bank
A US bank regulator has been asked to look into a 2020 wire transfer that has roped the Republican party’s favorite lender and JPMorgan into a long-running dispute.
China’s Unprecedented Dump of $53 Billion in US Treasuries Rattles US Economy
China’s decision to cut ties with a record number of US treasuries and agency debt bonds, totaling $53.3 billion, is a bold move that underscores the escalating tensions between the world’s two …
The diamond industry is in trouble as it loses its sparkle in China
Diamond prices have sunk by about 30% since 2022. China’s declining marriage rates and embrace of lab-grown diamonds are partly to blame.
China’s Space Pioneer raises $207 million to fund rocket development
Beijing-based rocket developer Space Pioneer said on Thursday that it had completed more than 1.5 billion yuan ($207 million) round of fundraising that will go towards financing the development of its …
China’s Economic Evolution: Navigating Crises and New Horizons
China’s economic response to current crises will have substantial global impacts. Amid domestic real estate challenges, debt pressures, and low foreign investment, companies are diversifying away from …
Govt’s reforms measures started yielding results: PM tells China EXIM Bank chief
The prime minister, talking to Chairman of China Export-Import Bank (EXIM) Dr. Wu Fulin here, highlighted his government’s reform agenda focused on …
PwC’s China woes: Merchants Group unit latest to jump ship as auditor comes under scrutiny
China Merchants Shekou Holdings, the property arm of the state-owned group, said it will hire KPMG, reversing its decision to appoint scandal-plagued PwC.
PwC Evergrande hit will ricochet around China Inc
China’s “teeth and thorns” are coming for PricewaterhouseCoopers. Those are the words President Xi Jinping has used to outline how he wants regulations enforced in the People’s Republic. That could …
China’s expanding travel curbs are cutting off more state workers from the rest of the world
Matthew, then a junior official in one of China’s most powerful finance ministries, treated himself and his bride to a two-week honeymoon at the resort destination of Maui, in the Hawaiian islands.
Saudi Arabia joins BIS- and China-led central bank digital currency project
Saudi Arabia has joined a China-dominated central bank digital currency cross-border trial, in what could be another step towards less of the world’s oil trade being done in U.S. dollars. The move, …
China’s Historic Dump of $53 Billion US Treasuries is Unprecedented Blow to US Economy
Why did China take this drastic step, and what does it mean for the United States and the global economy?
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